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$230,000

  • For Sale
  • Active
  • Multi-Family
  • 6 Total Beds
  • 2 Car Garage
  • Updated 12 days ago
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Welcome to this rare opportunity to own a solid brick 2-unit building offering large 3-bedroom, 1.5-bath units with excellent layout and space. Property features an unfinished basement with strong potential for storage or future expansion, plus a detached 2-car garage for added convenience. This is a value-add opportunity ideal for an investor or buyer looking to unlock upside. The property has significant potential but will require the buyer to address existing village violations. Once completed, this building could be a strong long-term hold or income-producing asset. Perfect for buyers seeking a rehab opportunity in a brick multi-unit with generous unit sizes and solid fundamentals. Property SOLD AS-IS.

Full Property Details for 387 Madison Ave

General

  • Price: $230,000
  • Taxes: $14,986 (2024)
  • Status: Active
  • Type: Multi-Family
  • Source: MRED
  • MLS ID: 12558779
  • Updated: 2/8/2026
  • Added to Site: 19 day(s) ago

Rental Information

  • Complex Features: Curbs, Sidewalks, Street Lights, Street Paved

Interior

  • Basement: Unfinished

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Upper - Full Baths: 2

Bedrooms

  • Total Bedrooms: 6

Additional Information

  • Other Features: School Bus Service, Commuter Bus, Interstate Access

Parking

  • Garage: Yes
  • Garage Spaces: 2
  • Total Spaces: 2
  • Parking Features: Yes, Garage Owned, Detached, Garage

Location

  • Area: Calumet City
  • County: Cook
  • Township: Thornton
  • Driving Directions: East on Sibley, North on Prairie, East on Stewart, South on Madison (Madison is 1-Way).

School Information

  • School District: 149
  • Elem School District: 149
  • Midd School District: 149
  • High School District: 205

Heating & Cooling

  • Heating Type: Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Lake Michigan

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • Basement: Yes
  • Basement Desc.: Unfinished, Full
  • Year Built: 1972
  • Built Before 1978: Yes

Unit Information

  • Units in Building: 2

Lot Features

  • Lot Size (Acres): 0.11
  • Lot Size Range: Less than .25 Acre
  • Lot Dimensions: 39 x 123
  • Zoning: MULTI

Financial Considerations

  • Parking Included: Yes
  • Assessment Year: 1972
  • Tax Amount: $14,986.09
  • Tax Year: 2024
  • Pays Sewer: Public Sewer

Disclosures and Reports

  • Ownership: Fee Simple
  • Property ID: 29121190050000
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.

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— 387 Madison Ave —

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NMLS#: 1598647

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 387 Madison Ave

School Districts:Dolton School District 149, Thornton Township High School District 205
NameGradesDistance
Caroline Sibley Elementary School
1550 Sibley Boulevard, Calumet City, IL 60409
K-60.6 mi
School Of Fine Arts
1650 Pulaski Road, Calumet City, IL 60409
6-80.8 mi
Creative Communications Academy
1650 Pulaski Road, Calumet City, IL 60409
6-80.8 mi
S T E M Academy
1650 Pulaski Road, Calumet City, IL 60409
6-80.8 mi
Thornwood High School
17101 South Park Avenue, South Holland, IL 60473
9-123.3 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 387 Madison Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/02/2026
Listed
$230,000
18.03%
MLS
4/15/2024
Sold
$194,859
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 387 Madison Ave

Year
Property Taxes
Change
Tax Assessment
Change
2023
$13,541
29%
$25,000
50%
2022
$10,487
5%
$16,668
—
2021
$9,945
-12%
$16,668
—
2020
$11,330
-17%
$16,668
-9%
2019
$13,581
—
$18,398
—
2018
$13,524
4%
$18,398
—
2017
$12,964
4%
$18,398
-2%
2016
$12,523
35%
$18,771
—
2015
$9,300
12%
$18,771
—
2014
$8,293
4%
$18,771
5%
2013
$7,952
11%
$17,896
—
2012
$7,175
—
$17,896
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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387 Madison Avenue, Calumet City, IL 60409 (MLS# 12558779) is a Multi-Family property with 2 units containing 6 bedrooms and 0 full bathrooms. 387 Madison Avenue is currently listed for $230,000 and was received on February 02, 2026. This property is listed by Terry Johnson from our Oak Lawn Office.Want to learn more about 387 Madison Avenue? Do you have questions about finding other Multi-Family real estate for sale in Calumet City? You can browse all Calumet City real estate or contact a Coldwell Banker agent to request more information.

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